Daily Report

3 de Setembro de 2025
Financial Markets | daily report 03.09.2025
  • Renewed fears about inflation and fiscal discipline prompted a broad sovereign bond sell-off. The Japanese 20 year bond yield reached levels not seen since 1999, the 30 year UK yield touched highs from 1998, and the yields on the 30 year US Treasury came close to 5%. Risk off sentiment spread to global stock markets which pared losses during the session.
  • On the macro front, euro area inflation rose +0.1pp to 2.1% in August and core inflation remained at 2.3% (see our take here). Overall, inflation is at target and puts no pressure on the ECB to adjust its monetary policy stance during its meeting next week.
  • In the US, manufacturing activity, as measured by the ISM survey, contracted in August but saw some improvement from July's report (48.7 vs. 48.0), with the new orders component rising and the prices paid falling.
  • Oil prices rose after the U.S. imposed sanctions targeting Iran's oil revenue stream, with Brent climbing to $69/barrel.